Private Activity Bond Extensions & Fees

Extension Requests

Applicants who are not able to close their bonds during the initial 90-day period may request an extension from the Board. Each extension request is valid for a period of 90-days or until the next PAB Board Meeting. Extension approval is based on the project’s advancements. Applicants are required to attend Board Meetings (in-person or virtually) to answer any questions and update the Board on the progress of the application).

Manufacturing Applicants must close on their bonds before the third week of December or volume cap allocation is automatically relinquished back to the PAB Board.

Extension requests granted in the October PAB Board Meeting extend until the January PAB Board Meeting. It is unnecessary for an applicant to apply for an additional extension request in the December PAB Board Meeting. Multi-Family Projects seeking an extension of their bond allocation must contact PAB staff.

Fee Schedule

Applicants to the PAB Program are required to pay certain fees. All fees are non-refundable and must be paid via physical checks. Payments shall be mailed to Private Activity Program, ATTN: PAB Program Manager, 140 East 300 South, Salt Lake City, Utah 84111. Fees shall be assessed as follows:

Application Fees

Application fees are due at the time of application submission. Failure to timely pay fees will render applications incomplete and subject to disqualification.

The Application Resubmission Fee only applies to projects that were previously submitted, approved, and received an allocation of volume cap, but were not able to issue the bonds. Resubmitted applications must be the exact same one that was previously approved. Any changes to the application, including the amount of volume cap requested, will be considered “First Time” applications.

Application Amount	First Time Application Fee	Application Resubmission Fee
Under $3,000,0000	$1,500	$750
$3,000,000-$5,000,000	$2,000	$1,000
Over $5,000,0000	$3,000	$1,500

Confirmation Fees

A confirmation fee is charged for all applications approved by the Board for an allocation of volume cap, including additional bond allocation. Applicants will be invoiced within five (5) business days after the Board Meeting in which the approval was granted. Confirmation Fees are due within 10 days of invoice receipt.

Application Amount
$300 per Million Dollars of Volume Cap Received

Additional Allocation Fees

In cases where a project has been awarded a volume cap and is in need of additional volume cap, an applicant may apply for additional volume cap. A confirmation fee is charged for additional allocation.

Application Amount
$300 per Million Dollars of Volume Cap Received

Extension Request Fees

Applicants who are not able to close their bonds during the initial 90-day period may request an extension from the Board. An Applicant may request up to five extensions. Manufacturing Projects must close their bonds before Manufacturing Bond Expiration.

Extension Request	Fee
1st 90-day period	No charge
2nd 90-day period	$2,000
3rd-5th 90-day period	$4,000